Pros:
1.) More cable lenghts to choose from
2.) Very flexible cables
3.) Stitches stay on the needle easily
4.) Thick cables are perfect for large pieces that weigh a lot
5.) Joins have almost no tendancy to come undone
6.) Are Great with slippery yarns.
7.) Can join cables to make almost any length

Pros:
1.) Nickel Plate, making for extremely fast knitting
2.) Very affordable
3.) Nice, sharp tips (perfect for lace)
4.) Perfect cables for large objects and magic-loop
5.) So many choices you can get as many or as few as you want.
6.) Extremely flexible cables
7.) Great Little Case
8.) Imperceptible Straight Joins

Cons:
1.) Sharp tips may snag with loose, bulky yarn
2.) Sharp tip may hurt your fingers if you push the needle too hard
3.) No size marking on needles, and not color coded.
4.) Nickel Plate may not be good with a slick yarn.
5.) Can't join cables to make longer lengths (as mentioned by F.K.)